Recipe for Success: Relationships and Constant Communication

At the NICSA General Membership Meeting in Boston, I had the opportunity to speak on a panel with other industry experts about effective intermediary servicing and operating relationships. Keeping up with both fund and intermediary activities can be challenging, but whether navigating change in the industry landscape or intermediary consolidations, communication and relationships emerged as a key theme for the fund, intermediary and service provider success. E&Y moderated the panel which was comprised of distribution, operations, transfer agent and broker dealer representation.

While each panelist represented a different stake in the game, the key theme was the importance of building and maintaining relationships. Relationships are built on experiences, so those report cards, surveys, face to face visits are important and our opportunity to know our customer and find out what’s important to them. The panel unanimously agreed that industry committees are invaluable in bringing partners together to discuss business challenges and steering solutions and working well and very important to how we solve problems collectively. From all seats, the importance of communication and advance notification was reinforced as the key. At the end of the day, it’s about the successful delivery to the network and end shareholder.

Where can we improve? Assisting our Fund Clients and Intermediaries with the adoption of automated products and best practices. From each point of view, we have similar goals in reducing costs, mitigating risk and delivering service excellence. If we build it, they will use it! What’s our takeaway? To keep up with our survey feedback, stay on our road trips, and seize the client engagement opportunities!

Liz D’Allessandro

Liz D’Allessandro is a Vice President at Boston Financial Data Services – a leading provider of outsourcing solutions for asset management firms. Liz started with Boston Financial in 1984 and has worked in various business lines of the transfer agent mutual fund services. She is an accomplished executive in the financial services industry with a focus in intermediary back office operations and best practices, service support and relationship management. Her current role includes managing the expectations for the industry’s largest brokerage firms and trust companies for over 90 mutual fund clients.
Liz is renowned as a leader in the field of process optimization, relationship management, risk mitigation solutions, implementing new products and client mergers and acquisitions. Liz also leads organizational initiatives to promote employee satisfaction and develop collaborative cross-functional teams.

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